The term “golden rules” is actually an introduction to the most important rules property managers must adhere to. This article should be considered a primer which you can build upon. As my readers know I want property managers to be “remarkable”. One big way to achieve this is to know so much about your responsibilities that […]
Posted on 11. Dec, 2014.
Are you prepared for the upcoming year? Recent studies suggest that multifamily demand will remain high in 2015, despite “high demand, some markets reflect...
Posted on 02. Dec, 2014.
Have you winterized your property? Last year’s winter season came as a shock to many proving that “even the typically warmer climes aren’t immune...
Posted on 16. Dec, 2014 by Marc Courtenay.
Vacancies can come up at the most unexpected times. The end of a year, even though it’s a holiday season, is no exception. Neither are the early months of winter when fewer moves occur. That’s why property managers need multiple ways to attract new residents that work all year round. It’s also effective to have […]
As 2014 draws to a close, there’s no better time to begin to assess the year. If there’s nothing you would change for 2015, you can probably stop reading now. But for most of us, there’s always something that we can do better, faster, more efficiently, and more profitably. One of the best ways to […]
While the holiday season conjures up visions of family gatherings, robust meals and brightly wrapped presents, the reality can often be very different. Today, it’s rare to find anyone who doesn’t experience at least some stress while coping with the holiday season. From your employees, your residents, and even your own family and friends, instead […]
Posted on 27. Nov, 2014 by Marc Courtenay.
As property managers we want to keep up on the trends in our local economies. “The trend is our friend” is a mantra that enlivens our professional awareness. The final quarter of 2014 has uncovered some important national trends as well. Building permits, an important signal of future construction, increased by 4.8% in October to […]
Posted on 25. Nov, 2014 by Marc Courtenay.
Like the words of a well known seasonal song, “It’s the most wonderful time of the year”. From Thanksgiving through New Year’s Day most people are in celebration mode. Strangely it’s also one of the most stressful times of the year. The holiday pressures of family reunions, buying gifts, planning get-togethers, or being alone while […]
The holiday season is rapidly approaching. Along with family get-togethers, decorations, and presents, the holiday season poses a unique set of risks for property managers, including everything from apartment fires to a higher risk of property theft. While it will never be possible to prevent all adverse events, there are many precautions both you and […]
If it’s such a great time to buy a house why are young Americans opting to rent rather than a buy a house? Is it because of low inventory in their price range, tight credit, difficulty qualifying, or all of the above? First-time home buyers aren’t clueless. They’ve done the math on how much house […]
Are you so bogged down in the details of your day to day management duties to take some time and look at the bigger picture? With the pressure to fill empty units, keep the property profitable, and make hundreds of people with very different personalities happy, property managers can sometimes forget to spend some time […]
Posted on 28. Oct, 2014 by Marc Courtenay.
Like the line from the infamous movie Jerry Maguire, property managers work hard to be able to say “Show me the money!” It doesn’t matter if you’re a Tom Cruise fan for these words to resonate. When I consult with property managers about growing their income I begin with the question, “Have you discussed this […]
Posted on 16. Oct, 2014 by Marc Courtenay.
Just because it may not be as “cool” today to take your property management business in a “green” direction doesn’t mean it’s not rewarding. Besides the personal satisfaction there are advantages. As part of its Healthy Homes Program, the federal government’s Department of Housing and Urban Development (HUD) launched in 1999 its Healthy Homes Initiative […]
Posted on 09. Oct, 2014 by Marc Courtenay.
It may feel like 2006 all over again when it comes to the housing market. Gimmicks and giveaways are creeping into the market because homes aren’t selling like builders had hoped. Back in 2006, just before the crash of 2008, no-document mortgages greased the way to the top of that housing bubble. Today it’s freebies […]
Posted on 09. Oct, 2014 by Stephanie Vernon.
We hosted a fun and informative session with Todd Breen on the power of video tours this week. He covered best practices for creating engaging video tours for your listings. He also covered many of the benefits video tours can offer property managers, including: Cutting vacancy time and showings in half! Increasing engagement and time […]
Posted on 07. Oct, 2014 by Marc Courtenay.
The number of multi-family rental housing complexes being built around the nation keeps on growing month after month. The implications for the property management business are somewhat ambiguous. No doubt there’s been a steady decline in the number of homeowners since the financial crisis of 2008. This has translated to a substantial increase of renters […]
Posted on 01. Oct, 2014 by Marc Courtenay.
Residents are on the prowl again looking for the most attractive rental units for their money. At the same time there is a growing group of former homeowners who are back in the rental market. The monthly rent these groups are willing to pay will partially depend on the condition of the rental properties. If […]
Property managers often refer to their properties as communities, and rightfully so. But have you ever thought about strengthening that community?One of the things that apartment dwellers typically cite about living in an apartment is a sense of isolation. Often, renters are new to the area, or even the state, and would like to meet […]
Marketing tools to turn vacancies into occupancies are worth a fortune. Like the technologies offered by Appfolio, there are many common sense methods to focus on your area’s target market. Each one of the following suggestions is not only intended to help you zoom in on new ways to attract a stream of potential tenants. […]
Posted on 09. Sep, 2014 by Mary Girsch-Bock.
The Wall Street Journal recently noted that the share of new homes being built as rental apartments is at its highest level in four decades. While it certainly helps the economy, an increase in apartment homes can strike fear in the hearts of many property managers. After all, these newer units will likely boast state […]
Posted on 03. Sep, 2014 by Marc Courtenay.
As the summer season slides to a close it’s good to remember that our work should be enjoyable. If our demanding profession begins to wear us down it’s probably time to do something about it. Recently I touched basis with a colleague who’s been in the property management business for over 40 years. I won’t […]
Posted on 28. Aug, 2014 by Marc Courtenay.
The U.S. economy has come a long way from the frightening fiscal collapse that happened at the end of the Bush administration in 2008. The Obama administration inherited the worst economic crisis since the Great Depression. The Federal Reserve has been managing America’s monetary policies since 1913. Once former Fed Chairman Ben Bernanke saw the […]
Posted on 26. Aug, 2014 by Ted Kimball.
One of the longest delays in processing evictions occurs when not all occupants are served personally (hand to hand) with the unlawful detainer summons and complaint. More often than not, the occupants know they must be legally served in order for the court to award a judgment for possession of the subject property. If they […]
Posted on 19. Aug, 2014 by Marc Courtenay.
Don’t let the lazy, crazy, hazy days of summer lull your property management business to sleep. Wake it up with timely communiqués that you send to your clients and potential clients. For example, why not ignite their imaginations with information about equity-based crowd-funding that specializes in real estate investment opportunities. I recently interviewed the co-founder […]
Posted on 12. Aug, 2014 by Alexis Hammond.
If you’re using Quickbooks to run your property management business, you may be experiencing common frustrations as you continue to grow. As a basic accounting software, Quickbooks only covers a fraction of your day-to-day property management activities. Learn more with this important slideshow on the reasons why your property management business may have outgrown Quickbooks. […]
I understand that most of us are averse to change. Just the thought of changing a familiar product can make the most competent people break out into a cold sweat; even if that familiar product has resulted in more work and increased mistakes. Let’s take a quick look at some of the repercussions of Jill’s […]
Posted on 31. Jul, 2014 by Alexis Hammond.
This easy guide and checklist lays out the steps in detail for you to start modernizing your business today. Stop wasting time with outdated processes and archaic resources and start spending more time streamlining your workflow and growing your business! This guide offers tips you won’t want to miss, including: How to reinvigorate and empower […]